Volvo Group, Renault Group and CMA-CGM in agreement on strategic change for Flexis

Volvo Group, Renault Group and CMA-CGM have made an agreement to make a strategic change to the business model of Flexis. This strategic move reaffirms the parties' commitment to innovation and collaboration and reflects their strong and positive relationship. Renault will buy Volvo’s 45 % ownership and CMA-CGM’s 10% in Flexis S.A.S. Volvo Group, through Renault Trucks, will remain a partner and investor in the project and will distribute Flexis developed products from 2027.  This change will align with the current successful business model between Renault Group and Renault Trucks for Renault branded light commercial vehicles. The transaction has no material impact on the Volvo Group earnings.